Strong start for Kape Technologies

Ido Erlichman
X The Business Desk

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Kape, the digital security and privacy software business, expects revenues to grow 60% following strong first half trading.

Revenue for the six months to end of 30 June is expected to be $95.7m, up from $59m for the same period in the prior year.

Adjusted EBITDA is expected to be around $28.7m million, up 79%, a record for the company.

It said the integration of Webselenese, which was acquired in March 2021, “is progressing well,” and is primarily focused on knowledge transfer, cross-pollination and product and R&D collaboration.

Kape  said it has already seen “significant benefits,” from the integration.

Momentum across the group’s core privacy division continued in the first half with a 17% growth in revenues.

Kape’s digital security segment also returned to growth with a 9% increase in revenues compared to H1 2020.

In May 2021, the Kape secured a new senior secured debt facility of up to $220m, comprising a $120m senior secured term facility, a $10m revolving credit facility and a $90m uncommitted acquisition facility from a growing club of top tier global financial institutions, signalling strong support for Kape’s current strategy and future expansion.

CEO Ido Erlichman said: “We are pleased to report a strong start to 2021 with demand for our products continuing to gather further momentum, supported by a growing number of customers choosing to take more than one of Kape’s products, as the very real need for individuals to both protect and secure their online presence becoming more acute.

“It is a great testament to our team that the integration of Webselenese is already making a positive impact across the group and we have only just begun to tap into the potential we believe this acquisition has brought to Kape.

“We continue to deliver on our strategic roadmap, providing better products to a growing customer base in the digital security and privacy space.”